The fruits of government-directed economic strategy and central planner incompetence:
May 2016 Labor participation rate: 62.2%. 94,103,000 million working-age Americans have dropped out of the labor force.
1st Quarter 2016 GDP growth: 0.5%.
U.S. median household income is growing – in the wrong direction…..
ZeroHedge 05/12/2016 – Excerpts:
While the middle class is losing ground across urban America, the dynamic is complex: Some families dropped into the lower-income bracket, but many others climbed up from middle class and into the upper-income bracket. Overall, the share of adults living in middle-income households fell in 203 of the 229 U.S. metropolitan areas Pew studied.
Along with the hollowing out of the middle class, Americans are generally making less money than they did in 2000. The median income of U.S. households in 2014 was $62,482 compared with $67,673 in 2000. Earnings for all groups — low income, middle class and upper income — suffered during that time.
For instance, the upper-income group earned median annual income of $173,207 in 2014, down 7 percent from more than $186,000 in 2000. Middle-class and lower-income families saw their incomes shrink 6 percent and 10 percent, respectively.
Those findings may help shed light on the discontent that many Americans, regardless of income, are feeling these days. Despite improving economic metrics such as lower unemployment, many workers feel as if they’re still struggling to get ahead. In a December poll, Pew found that most Americans feel the government isn’t doing enough to help the middle class.
Needless to say, as the central planners continue to unleash their incompetence on the world, the wealthy will continue to accumulate wealth, the poor will continue to become poorer, and although some in the middle class do move up a bit, the fact remains that the middle class itself is being destroyed. The purchasing power of those that the U.S. consumption economy depends on so much will continue to be eroded, and ultimately the impact on the real economy will be felt, even more than it is today.
We need to get this economy turned around and fired back up – now.
We need economic liberty and a revitalized, citizen-directed economy.
The Leviticus 25 Plan 2017 – $75,000 per U.S. citizen The Leviticus 25 Plan 2017 (1494)